When a price rushes down to a level and trades in a range as below you can assume as a trader it’s in a holding pattern waiting to breakout on release of news. You can trade within these boundaries and then the breakout BUT be careful not to place a large trade going against the breakout and lose money.
Dollar index flat as Fed minutes hint tensions on inflationhttp://www.reuters.com/article/us-global-forex-idUSKBN19P00X
As our chart was telling us gold continued to sell down after trading a pennant pattern last week. We continue the ride down until our weekly indicator tells us the trend is turning.
Very insightful program or retirement and the income required on 60 Minutes last night. Very apparently most people won’t have the income to retire well and the government certainly won’t be able to fund a bubble of baby boomers expecting the pension.
With so few investment options in the near future currency trading is in my humble opinion one of the best alternatives to master.
As a longterm trader I know we can have weeks like these. They’re shakeout weeks. The banks see danger in the chart and manipulate it away from a zone. Buyers try and regain control but eventually lose. These movements trigger and confuse retails traders to leave and re-enter the market trying to guess the movements and consequently LOSE money.